Iran’s current economic situation “looks eerily similar” to Egypt pre-2011

Iran’s current economic situation “looks eerily similar to Egypt’s in the run-up to the 2011 revolution that toppled Hosni Mubarak,” David Rosenberg writes for Haaretz (paywall). Iran is currently suffering from high unemployment rates and economic growth figures that seem healthy but do not translate to improved living conditions for the majority of the population, which was also the case in Egypt pre-2011. Tehran’s economic growth is also benefiting corrupt cronies the most, Rosenberg says. “None of this necessarily means Iran will go the way Egypt did seven years ago. All the economic ingredients you need to bake the cake of revolution are there, but that doesn’t mean they will come together this time. Yet, unless fundamentals change — and it doesn’t look like they will — there will be another time, and another, and eventually, the cake will come together.”